Author: Max Bauer

Bitcoin experienced a volatile trading day Monday, mirroring global market anxieties fueled by tariff-related recession fears. The cryptocurrency initially plummeted over $10,000 from its Friday high near $85,000, briefly touching a low of $74,420.69 before recovering somewhat in afternoon trading. As of late Monday, Bitcoin was trading at approximately $78,852.00, down less than 1% for the day, according to Coin Metrics. This represents a roughly 30% decline from its January peak. This rollercoaster ride highlights Bitcoin’s increasing correlation with traditional markets, albeit with some notable differences. David Hernandez, crypto investment specialist at 21Shares, observed, “Today’s relief rally has lifted bitcoin…as…

Following the US announcement of sweeping tariffs, BlackRock CEO and Chairman Larry Fink offered a sobering assessment of the market and economic outlook, warning of a potential further 20% market decline and expressing concern over the inflationary impact of White House actions. In remarks made today, Fink stated, “I see it more as a buying opportunity than a selling opportunity, but that doesn’t mean we can’t go down further.” This comes on the heels of a significant market downturn, with Fink noting the impacts and potential ripple effects of a 20% drop over just three days on BlackRock’s clients. BlackRock…

Tensions between the United States and China are rapidly escalating following President Donald Trump’s announcement of potential further tariffs on Chinese goods. In a statement released via his Truth Social account, President Trump threatened to impose an additional 50% tariff on Chinese imports if China doesn’t rescind its recently implemented 34% retaliatory tariffs by April 8, 2025. This new threat comes just days after the President announced a 34% “reciprocal” tariff set to take effect on Wednesday, April 10th, adding to the existing 20% tariff already in place. With Trump’s New Move, China May Face 104 Percent Tariffs The President’s…

Swiss National Bank (SNB) President Martin Schlegel has firmly rejected proposals for the central bank to hold Bitcoin as part of its reserves, citing significant concerns about the cryptocurrency’s volatility, liquidity, and security. His comments come amidst a growing debate sparked by a recent people’s initiative advocating for Bitcoin inclusion in the SNB’s holdings. In an interview with the Tamedia newspaper group, published on Saturday, Schlegel outlined several key reasons for his opposition. He emphasized that cryptocurrencies fail to meet the fundamental characteristics of a reliable currency. “Firstly, cryptocurrencies are extremely volatile,” Schlegel stated, deeming this instability incompatible with the…

Federal Reserve Chairman Jerome Powell, in his semiannual Monetary Policy Report to Congress, affirmed the central bank’s commitment to achieving maximum employment and price stability. Addressing the Senate Finance, Housing and Urban Affairs Committee, Powell painted a picture of a strong economy with easing inflation, while acknowledging the need for continued vigilance. Powell noted that the economy has made “significant progress” towards its goals over the past two years. GDP grew by 2.5% in 2024, driven by resilient consumer spending. While investment in equipment and intangibles saw a decline in the fourth quarter, it remained solid for the year overall.…

Cryptocurrency enthusiasts eager for the confirmation of new SEC Chair nominee Paul Atkins, known for his cryptocurrency-friendly stance, will have to wait a little longer. Cryptocurrency journalist Eleanor Terrett recently clarified the reasons behind the delay, addressing the numerous inquiries she’s received on the matter. Terrett explained that the Senate confirmation process involves numerous new administration members, with cabinet members typically prioritized. Currently, nine cabinet member nominations still await Senate votes. Atkins’ confirmation process will involve a hearing before the Senate Banking Committee. A date for this hearing has yet to be set. If his nomination successfully advances out of…

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, continues to underperform Bitcoin and other major digital assets, trapped in a year-long trading range between $2,500 and $4,000. Analysts attribute this stagnation to a surge in short selling by hedge funds, creating a significant headwind for the cryptocurrency. While Bitcoin and altcoins like Solana have reached new all-time highs this year, Ether remains approximately 80% below its November 2021 peak of $4,800. According to market analysis firm The Kobeissi Letter, hedge funds have dramatically increased their bearish bets on Ether. “Short positioning in Ethereum is now up +40% in one week…

A recent Proof of Reserves (PoR) report released by cryptocurrency exchange Binance indicates a substantial reduction in the exchange’s own cryptocurrency holdings. While Binance maintains it continues to hold all user assets in full, the report reveals a significant sell-off of the exchange’s excess reserves. The latest PoR shows a stark contrast to the previous report, with billions of dollars worth of various cryptocurrencies apparently liquidated. Key changes highlighted in the report include: In total, the report suggests that Binance has sold approximately $8 billion out of its previously reported $14 billion in excess cryptocurrency reserves. While Binance assures users…

Despite Bitcoin’s recent price decline, cryptocurrency analytics firm Alphractal reports that the aggregated funding rate across 11 major exchanges remains positive. This indicates a prevailing bullish sentiment among traders, with more betting on price increases (long positions) than decreases (short positions). Funding rates, charged every eight hours, represent payments between long and short position holders. A positive funding rate means longs are paying shorts to maintain their positions, suggesting an expectation of further price appreciation. Conversely, a negative rate indicates shorts are paying longs, reflecting a bearish outlook. Alphractal’s analysis reveals a divergence in sentiment across exchanges. While most platforms…

Binance CEO Changpeng Zhao (CZ) has responded to criticism following the listing of memecoin TST on the exchange. Zhao’s comments aimed to clarify his position on memecoins and address concerns about his alleged involvement in TST’s listing. The controversy began after Zhao discussed TST, prompting speculation about his endorsement. “TST was NOT endorsed by me/us,” Zhao clarified. “It was just a test token used in a video tutorial.” He acknowledged the irony of his clarifications inadvertently fueling the token’s virality. Addressing concerns about a perceived shift away from his emphasis on project fundamentals, Zhao reaffirmed his commitment to them. “I…